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About This Home
This 0-bedroom, 0-bathroom commercial at 651 W Main Road in Middletown, RI is listed for $1,875,000. Built in 1960, on a 0.56 acres lot.
Prime Commercial Opportunity - Two Adjacent High Visibility Parcels on Rt 114, Middletown, RI, Aquidneck Island's highest-traffic corridor. Parcel 1: Home to Tito's Cantina, an iconic Mexican restaurant established 38 years ago as the first Mexican restaurant on Aquidneck Island.
The property features a free-standing 2124 SF building on a 12,196 SF lot. Owner occupied since 2000, therefore no rental history is available. The sale includes all licenses, including liquor and victualing licenses, conveying with the property. Parcel 2: A single-story masonry retail strip center totaling 2950 SF on a 12,197 SF lot, currently divided into 3 tenant spaces.
All tenants pay separate utilities. While no formal leases are in place, the property generates approximately $45,000 in annual gross rent. Together, the parcels comprise 24,393 (0.56 acres) with 150 linear feet frontage on Rt 114. Directly across from Navy surplus land slated for redevelopment - poised to become a new commercial hub on Aquidneck Island. Financials (income and expenses) available to qualified, interested parties.
Key Features
- Built in 1960
- 0.56 acre lot
- 40 parking spaces
Property Details
Amenities
Monthly Cost Estimate
$10,028/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
651 W Main Road
Middletown, RI 02842
Restaurant District
Property Details
Construction
Heating
Cooling
Questions & Answers
This 0-bedroom, 0-bathroom commercial at 651 W Main Road is listed at $1,875,000. The estimated monthly payment is $8,125 based on 20% down at 6.5% interest.
Key features include: Built in 1960, 0.56 acre lot, 40 parking spaces.
This property is listed by Paul Tobak and can be reached at (401) 845-9500 or paul@hoganri.com.
